PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3707 of audit and examination to any books, documents, papers, and records of a manager and resident council that are pertinent to assistance received under, and to the requirements of, this section. "(C) REPORTING REQUIREMENTS. — Each manager shall submit to the Secretary such reports as the Secretary determines appropriattj to carry out the Secretary's responsibilities under this section, including an annual financial audit. "(D) ANNUAL REPORT. — The Secretary shall submit an annual report to the Congress evaluating management transfers under this section compared to other methods of dealing with severely distressed public housing, "(k) NONDISCRIMINATION.— No person in the United States shall, on the grounds of race, color, national origin, religion, or sex, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under, any program or activity funded in whole or in part with funds made available under this section. Any prohibition against discrimination on the basis of age under the Age Discrimination Act of 1975 or with respect to an otherwise qualified handicapped individual as provided in section 504 of the Rehabilitation Act of 1973 shall also apply to any such program or activity. "(1) RELATIONSHIP TO OTHER PROGRAMS.— "(1) HOMEOWNERSHIP. — After a transfer of management in accordance with this section, the eligible housing shall remain eligible for assistance under title III and for sale under section 5(h). Participation in a homeownership program shall be consistent with a contract between the Secretary and a manager. "(2) SELF-SUFFICIENCY. —Where an application under subsection (f) proposes a program to enable residents to achieve economic independence and self-sufficiency, consistent with the objectives of the program under section 23, and demonstrates that the manager has the capacity to carry out a self-sufficiency program, the Secretary may approve such a program. Where such a program is approved, the Secretary shall authorize the manager to adopt policies consistent with section 23(d) (relating to maximum rents and escrow savings accounts) and section 23(e) (relating to effect of increases in family income), "(m) DEFINITIONS.— For purposes of this section: "(1) The term 'eligible housing* means a public housing project, or one or more buildings within a project, that— "(A) is owned or operated by a troubled public housing agency; and "(B) has been identified as severely distressed under section 24 of this Act. In the case of an individual building, the building shall, in the determination of the Secretary, be sufficiently separable from the remainder of the project to make use of the building feasible for purposes of this section. "(2) The term 'manager' means one of the following entities that has entered into a contract with the Secretary for the management of eligible housing under this section: "(A) A public or private nonprofit organization (including, as determined by the Secretary, such an organization sponsored by the public housing agency).